Feeds

Icahn builds Yahoo! stake

Activist investors at the gate

Top 5 reasons to deploy VMware with Tegile

Carl Icahn has quietly built up a four per cent stake in Yahoo! since Microsoft withdrew its offer for the company.

Icahn has a history of launching proxy bids for companies he considers have lost their way. In April he won two seats on Motorola's board. His main demand, that Motorola sell off its handset business, was accepted by the company in February and it is still seeking a buyer.

But Icahn may have a tougher job doing the same at Yahoo!. Presumably Icahn wants to force Yahoo! to accept Microsoft's offer for the company, but Ballmer has made no public commitment to return to the negotiating table. In fact Ballmer's letter explicitly ruled out a proxy contest because: "Our discussions with you have led us to conclude that, in the interim, you would take steps that would make Yahoo! undesirable as an acquisition for Microsoft."

Icahn would need other investors on his side to force Yahoo! back into discussions. The Wall Street Journal quotes anonymous sources that Icahn is still to win over other investors or get a promise of a repeat offer from Microsoft.

He will need to make any decision quickly. Yahoo!'s shareholder meeting is 3 July, which means the deadline for proposing rival candidates for the board is 15 May - tomorrow.

Some institutional investors have already made clear their distaste for Yahoo!'s chief executive Jerry Yang, either by publicly criticising him or by joining a class action case, this being launched back in February when Microsoft's offer was first rejected. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
The 'fun-nification' of computer education – good idea?
Compulsory code schools, luvvies love it, but what about Maths and Physics?
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.